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ANTEO BECOMING GLOBAL GAME CHANGER Nanoglue technology and offshore acquisition excites investors and industries.


Anteo Diagnostics is on the cusp of transformational growth as it extends its world-class nanoglue technology platform across industry and global markets. Chaired by finance innovator Mark Bouris, Anteo has achieved several key milestones in the past 12 months. The goal is to quicken technology commercialisation, enter new markets such as batteries, and capitalise on Anteo’s recently acquired global sales channel. In January 2016, the ASX-listed company concluded the acquisition of DIAsource ImmunoAssays SA, a leading Brussels-based global speciality diagnostics company with a presence in 75 countries. The acquisition gives Anteo an extensive global sales channel to commercialise its technology. DIAsource CEO Dr Jef Vangenechten was appointed group CEO of Anteo Diagnostics as of June, replacing Dr Geoff Cumming, who is assisting Anteo’s board for six months as the Brisbane-based company transitions to a new COO, organisation structure and global reach. Institutional investors are backing Anteo. It was announced that United States investor Bergen Asset Management could invest up to US$6.5 million to contribute to the earn-out component of the DIAsource ImmunoAssays acquisitions, and to provide working capital.

The combination of a major offshore acquisition, new management and additional working capital has boosted Anteo’s capacity to commercialise its platform technology in other industries, and effectively de-risked the Brisbanebased company. ‘This is a pivotal phase for Anteo,’ says Dr Joe Maeji, Anteo co-founder and chief scientific officer. ‘We have the global distribution channels, funding and team to accelerate the commercialisation of our technology and deliver on Anteo’s promise for shareholders. ‘After more than a decade of development, our nanoglue technology is reaching a tipping point with customers who continue to validate its benefits. In response to industry demand, we are also developing the technology for markets such as lithium-ion batteries.’ Exceptional technology driving Anteo Anteo’s technology has huge application. Its patented healthcare nanoglue family of metal-ion polymers, (Mix&Go™), attaches biomolecules to synthetic surfaces using a multipoint binding technique that is stronger, gentler and more flexible than conventional binding technologies. Standard chemistries tend to damage a large part of biomolecules attached to a synthetic surface. This results in a reduction or loss of function of biomolecules, an important issue with miniaturisation, such as in pointof-care products. In addition, different surfaces can dramatically affect biomolecules in different ways, forcing manufacturers to use binning and other strategies to maintain consistency and reproducibility in testing. Anteo’s initial focus is the in vitro diagnostics (IVD) market, the largest of medtech sub-sectors, and forecast to be worth $70 billion by 2017. The IVD market is expanding quickly as an ageing global population, growth in emerging markets and development of point-ofcare testing requires faster, cheaper and more accurate laboratory test results.

Studies have shown that Anteo’s polymeric technology, Coupling Kits, improves diagnostic tests and is a faster, cheaper and easier alternative to incumbent technologies. It can transform the way scientists work by saving them hours in reagent preparation time and, being water based, it reduces the amount of hazardous materials they work with. ‘Anteo’s nanometre-thin metal-ion polymer binders, primers and coatings for nanomaterials are a breakthrough technology,’ says Dr Maeji. ‘It is effectively a universal surface-coating solution that can be applied to almost any range of synthetic surfaces and used as binders, primers and coatings across industry. Its potential applications go well beyond the life sciences sector.’ Leveraging a unique platform into new applications Anteo believes the platform technology can be applied to bio/separations, medical devices and batteries, in addition to life sciences research and development. In April 2015, Anteo announced a patent filing in the field of bioseparations, which is a key process in many industries, including the growing immunoassay market. Worldwide, around 10 billion immunoassays that run each year are susceptible to sample-specific interference, which can result in bad test results and poor patient outcomes.

Anteo’s patent could provide an automatable, effective sample pre-treatment that mitigates interference without affecting laboratory workflows. Anteo is developing a patent portfolio for effective enrichment or removal of desirable or undesirable materials in both life science and large-scale industrial applications. ‘Our technology could dramatically simplify many purification processes such as wastewater treatment,’ says Dr Maeji. ‘We are receiving excellent feedback on our concept from stakeholders in this market.’ Batteries is another large opportunity. The $30-billion lithium-ion battery market is expected to be growing strongly as demand for innovative energy solutions booms. Preliminary research shows that Anteo’s nanoglue technology can be easily implemented in the battery manufacturing process between the raw materials and electrode manufacturing states to improve efficiencies in battery capacity, charging time and life. Anteo has three patent applications directed at the energy sector. ‘The recent PCT filing is an important milestone in our commercialisation activities in the industrial area,’ says Dr Maeji. ‘We will be interacting with potential partners over the next six to nine months.’ Dr Maeji says there are a lot of commonalities between nanomaterials used in life sciences research and in lithiumion batteries, as well as other energy areas, electronics and industrial coatings, among others. ‘Since we are binder and coating specialists, energy storage is a natural progression for our metal-ion polymer technologies,’ he says.

The IVD market is expanding quickly as an ageing global population, growth in emerging markets and development of point-of-care testing require faster, cheaper and more accurate laboratory test results

Dr Maeji says multi-point binding that can break and reform is a ‘self-healing coating’ and can prevent fragmentation of siliconbased anodes that swell three to four times during charge and discharge cycles. Commercialisation of these anodes that have more than 10 times the energy storage density of current graphite-based anodes is being hindered by these current limitations. ‘We also believe Anteo coatings can help resolve the stability problems of new generation cathode materials.’

Preliminary research shows that Anteo’s nanoglue technology can be easily implemented in the battery manufacturing process between the raw materials and electrode manufacturing states to improve efficiencies in battery capacity, charging time and life

Investors are interested in Anteo’s potential in energy storage. Anteo successfully completed a $1-million equity placement in May 2015 to enhance its Anteo Energy division. The company said: ‘The level of enthusiasm shared by our investors for the potential of Anteo Energy, driven by the data, now gives us the ability to fast-track our program for the use of nanoglues in batteries. This is potentially a very large market opportunity for Anteo’.

Global reach to commercialise Anteo technology Anteo’s full acquisition of DIAsource is a critical part of its strategy. DIAsource develops, makes, markets and distributes clinical diagnostic products in the field of endocrinology. It services customers in 75 countries and sells products directly and through a global network of 90 main distributors and 40 original equipment manufacturer partners. DIAsource is performing strongly: revenue was €14.1 million ($21.7 million) in 2015 and it achieved its ninth consecutive quarter of revenue growth (9 per cent over 2015) in March 2016 with sales of €3.8 million. The deal transitions Anteo towards a cash flow–positive organisation with significant earnings upside. It also provides Anteo with an experienced, globally networked sales team that dovetails with its scientific strengths, a strategic location in Europe, and a range of additional commercialisation opportunities for its metal-ion polymer technology. ‘There is a tremendous opportunity to leverage its product range and capabilities through DIAsource’s supply chain,’ says Dr Maeji. ‘Anteo also gains access to a large production capability that will allow us to manufacture products at scale. Effectively, this acquisition fast-tracks Anteo’s capabilities in production and commercialisation in the diagnostics and life sciences global market. It would have taken years and significant further investment for Anteo to build these capabilities on its own.’ The key pieces in Anteo’s strategy—to apply core technology into new application areas and create new business opportunities—are rapidly coming together. ‘It’s been a long journey, but Anteo is in the right place at the right time,’ says Dr Maeji. ‘We are determined to capitalise on all the hard work over the past decade and ensure our technology, which has almost limitless potential across industry, benefits more customers.’ To learn more about Anteo Diagnostics, visit www.anteodx.com.

http://www.ausbiotech.org/userfiles/file/2280_AusBiotech Vol26No2 LOWRES-3MB.pdf

RB